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Iranian Economy Minister Farhad Dejpasand. in a meeting with Azerbaijan’s First Deputy Prime Minister Shahin Mustafayev. said Baku should broaden its banking relations with Tehran in a bid to expand economic relations between the two sides.
In the meeting with Mustafayev. Dejpasand said that Iran and Azerbaijan have many capabilities and should further develop their relations. highlighting that cooperation in the banking sector is of prime importance for strengthening economic ties.
He added that the two countries should develop their banking ties. accelerate creation of joint economic projects and further develop their relations.
Dejpasand also stressed that Iran’s startup committees and foundations are ready to cooperate with Azeri startups.
Mustafayev noted that Azeri President Ilham Aliyev is keen on expansion of relations and cooperation with Iran.
Mustafayev had a meeting with Iranian President Hassan Rouhani where the Iranian head of state underlined that his country is resolute to put all economic agreements with Baku into practice.
In the same meeting. Mustafayev said that the volume of trade between the two countries has increased threefold since 2014 and the number of Iranian companies working in the Republic of Azerbaijan has increased 50 percent from a year ago.
Late in October. Iranian Energy Minister Reza Ardakanian and his Azeri counterpart exchanged views on the development of bilateral relations in the field of energy. and underlined the need for deepening mutual cooperation.
A couple of days earlier. Iran`s Ambassador to Azerbaijan Javad Jahangirzadeh announced that executive works to set up a joint industrial township will kick off by Tehran and Baku in the near future.
Construction of the industrial township is to set up processing industry for agricultural products and producing industrial outputs in order to export them to the two countries and other regional states. Jahangirzadeh said. addressing a meeting of 60-member delegation of Iran-Azerbaijan Joint Chamber of Commerce in Baku.
The Iranian ambassador said that the embassy in Azerbaijan is ready to offer guidance for Iranian businessmen to develop economic cooperation with the Republic of Azerbaijan.
Jahangirzadeh hoped that Tehran-Baku commercial relations would hit $600 million a year in the near future.
Iran exported goods worth $290 million to Azerbaijan Republic in six months.
In a relevant development earlier in October. Azerbaijani Ambassador to Tehran Bunyad Huseynov said that his country is interested in further expanding commercial and economic ties with Iran. and lauded the significant 74% growth in the volume of bilateral trade.
In a relevant development in December 2018. Speaker of the National Assembly of Azerbaijan Republic Ogtay Asadov announced that the volume of trade ties between his country and Iran had jumped 40 percent.
Relations between the Islamic Republic of Iran and the Republic of Azerbaijan have always expanded and now they are in their golden era. Asadov said at a meeting with Governor-General of Iran`s Northwestern province of West Azarbaijan Mohammad Mahdi Shahriari in Urumiyeh.
The volume of trade ties between Iran and Azerbaijan has increased 40% in 2018 and it can further grow given the existing capabilities and capacities. he added.
